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Chumbak raises ₹7.39 crore from Gaja Capital

Lifestyle company Chumbak Design has raised ₹70 crore in series D fund-raising from investors led by home-grown private equity fund Gaja Capital. While Gaja Capital invested about ₹50 crore, the latest round also saw participation from existing investors including venture capital fund Matrix Partners, said two people aware of the development. The funds raised in this round will be used for expanding the company’s presence in more tier 2 cities and increasing the number of its stores along with entry into new categories such as beauty and personal care.

News source ~ Economic Times